Public Notice No. 31(RE:99) 1997-2002 dt. the 23rd September,1999

Subject: Continuance of Deemed Export benefits under, Paragraph 10.2(d) of the Exim Policy, 1997-2002, for supplies made to Maharashtra State Electricity Board for execution of Maharashtra Power Projects in the wake of withdrawal of World Bank loan for these projects - World Bank Loan No.3498 -IM.

Attention is invited to paragraph 10.2(d) of the Export - Import Policy, 1997-2002, as amended up to 31.3.1999.

2. Representations have been received for continuance of deemed export benefits for supplies effected to Maharashtra Power Projects.

3. The matter has been considered to consultation with Deptt. of Economic Affairs and Deptt. of Revenue and it has been decided that:

(i) The deemed export benefits shall be extended for all those contracts for which letter of intents were issued prior to date of suspension of the loan by the World Bank on 22.10.1996, against tenders evaluated in accordance with the World Bank approved procurements procedures irrespective of the date of actual supplies.

(ii) The benefits under the deemed export policy, as stated above, would be available for supplies made during the contracted period of the delivery schedule which also includes the extended period of delivery schedule by the Project Authority for execution of the project.

(iii) However, where supplies in respect of contracts, as contained in paragraph 3(i) and 3(ii) above have already been completed on the date of issue of this notification, such contracts shall not be eligible for grant of special imprest licence unless such licence had already been applied for prior to effecting the aforesaid supplies.

(iv) In respect of cases referred to in (i) above, the project authority will specifically mention that a contract had been entered into prior to 22.10.1996. For this purpose in Appendix 14-A of Handbook of Procedures (RE:March, 99), following paragraph will be added:

"It is certified that this contract has been entered into prior to ...................."

4. This Public Notice is issued for continuance of deemed export benefits for supplies made to Maharashtra State Electricity Board for early execution of the second Maharashtra Power Project in the wake of withdrawal of World Bank loan, subject to the terms and conditions mentioned in the foregoing paragraph and in Appendix - 14A of Handbook of Procedures (RE:99).

Sd/-
(N.L. Lakhanpal)
Director General of Foreign Trade

Presented by eximkey.com